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- USD longs moved lower, EUR shorts edged little lower - Rabobank
USD longs moved lower, EUR shorts edged little lower - Rabobank
According to IMM net speculators’ positioning as at June 11, 2019, USD longs moved lower for a second week and by a larger margin, notes the research team at Rabobank.
- “This has taken net longs to their lowest level since July 2018 as the market prepares for the possibility of a Fed rate this summer.
- The level of net EUR short positions edged a little lower. The previous week they had dropped sharply ahead of last week’s ECB meeting. This suggests that speculators do not expect a significant increase in dovish rhetoric from the ECB just yet.
- Net short GBP positions edged a little lower after the previous week’s surge, though they remain elevated.
- The level of JPY shorts increased modestly following the sharp drop the previous week.
- CHF net shorts dropped sharply.
- CAD net shorts fell back. BoC policy, trade talks and oil prices are in view.
- AUD net shorts held extremely steady last week awaiting further developments on RBA policy and Chinese growth.”
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